Nvidia (NVDA) has had a bumpy ride over the past month as the tech sector is just beginning to recover from the wide sell-offs seen at the beginning of August. With the chipmaker’s next earnings report around the corner — Wednesday, August 28 — could Nvidia be the leader for another tech rally?
Niles funding Management founder and collection of investments manager Dan Niles joins Catalysts to give insight into Nvidia’s upcoming earnings and what investors need to know about the enterprise and the sector moving forward.
Niles believes that while the “quarter itself” could be “messy” for Nvidia, he still feels bullish on the stock long-term. But he’s still not a buyer at these current levels:
“Going into this earnings season, we said we thought there would be an issue during earnings with the Magnificent Seven, and that you’d have to start rationalizing AI spend because you weren’t generating the revenues you needed. And so for us, if you look at the six Magnificent Seven shares that have reported so far, they’ve been down on average 4% the day after earnings.”
#youtube #news #shares
About Yahoo money management:
Yahoo money management provides free stock ticker data, up-to-date news, collection of investments management resources, comprehensive industry data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at money management.yahoo.com
– Download the Yahoo money management app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo money management on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/enterprise/yahoo-money management
Disclaimer:
If you own the YouTube channel related to this video and do not want it to be featured here, you can contact us through our contact page. We will gladly remove it without questioning your reason